Friday, August 13, 2010

Rubio Still An Economic Illiterate

I have wrote repeatedly here, here, here, here, here, here, here, here, here, here, and here about Marco Rubio having amazingly stupid ideas on economic policy. I blog often about economic policy and I scratch my head at the nonsense that comes out of Rubio's mouth. One of Rubio's most hysterical ideas was a constitutional amendment for a balanced federal budget. Here is what I wrote Marco Rubio back in July.

Marco Rubio continues to be unserious about policy. Rubio proposes a constitutional amendment requiring the budget be balanced. Rubio also wants all future taxes to require 67 Senate votes. A constitutional amendment would require 67 Senate votes and 2/3 of the state voters to approve. The Senate votes aren't there and if they was the amendment would take at least 20 years to pass. Requiring all new taxes to pass by a 67 Senate vote would require changing the Senate rules. Which would also require 67 votes.

Obama couldn't get the votes for the deficit reduction committee. Rubio as a junior Senator isn't going to pass a constitutional amendment. Sadly, Rubio is still making his constutional pitch and wants entitlement programs to sunset every ten years. Rubio spouted his economic illiteracy on Fox News.

RUBIO: The second thing we have to do is spending constraints. That means a constitutionally balanced budget, that means banning the practice of earmarks, and ultimately that means entitlement reform. [...]

ASMAN: Might you also have to go even farther than Ronald Reagan did and reversing thing like the department — when Jimmy Carter started the Department of Education, he said it would improve our test scores and make schools more efficient. In fact, we’ve had just the opposite. When he created the Department of Energy, that was to get us off of a dependence on foreign oil. Well guess what, we’re a lot more dependent on foreign oil. What about getting rid of two departments like these?

RUBIO: Well, here’s what I think. I think every non-defense department, every non-defense discretionary spending program should be sunsetted every 10 years. Every 10 years, those programs should sunset and we should require that they be reauthorized by Congress. That means they’re going to have to justify their existence. Look at it this way, it’s like term limits on agencies.

The reason Rubio doesn't bring his economic message to MSNBC is because he is afraid he will be laughed out of the room.

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